Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
The HC dismissed the writ petitions filed by the petitioner challenging the demand for wrongful availment of ineligible ITC, interest, and penalty arising from discrepancies between GSTR-1 and GSTR-3B returns. The petitioner, who voluntarily provided OTP access to a third party, facilitated the creation of multiple fraudulent GST registrations resulting in ITC claims exceeding Rs. 50 crores. The Court held that the petitioner cannot claim innocence given these facts and declined to conduct a factual inquiry into the misuse of ITC, directing that such investigations fall within the purview of police authorities. Consequently, the petitions were disposed of, upholding the impugned orders and affirming the demand for recovery of tax liabilities and associated penalties.
The HC dismissed the writ petitions filed by the petitioner challenging the demand for wrongful availment of ineligible ITC, interest, and penalty arising from discrepancies between GSTR-1 and GSTR-3B returns. The petitioner, who voluntarily provided OTP access to a third party, facilitated the creation of multiple fraudulent GST registrations resulting in ITC claims exceeding Rs. 50 crores. The Court held that the petitioner cannot claim innocence given these facts and declined to conduct a factual inquiry into the misuse of ITC, directing that such investigations fall within the purview of police authorities. Consequently, the petitions were disposed of, upholding the impugned orders and affirming the demand for recovery of tax liabilities and associated penalties.
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